Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Sacra estimates that Owner hit $100M in annual recurring revenue (ARR) in July 2026, up from $81M at the end of 2025.</li><li>Owner.com raised $240 million in a Series D round in August 2026 at a $2.3 billion post-money valuation, led by Growth Equity at Goldman Sachs Alternatives.</li><li>Owner.com found product-market fit as an all-in-one digital platform for independent restaurant owners who were struggling with high commission fees from third-party delivery apps.</li></ul>

Sacra estimates that Owner hit $100M in annual recurring revenue (ARR) in July 2026, up from $81M at the end of 2025.Owner.com raised $240 million in a Series D round in August 2026 at a $2.3 billion post-money valuation, led by Growth Equity at Goldman Sachs Alternatives.Owner.com found product-market fit as an all-in-one digital platform for independent restaurant owners who were struggling with high commission fees from third-party delivery apps.

<ul><li>Owner hit $81M annual recurring revenue (ARR) at the end of November 2025, up 137% from $34M at the end of 2024.</li><li>Owner charges independent restaurants $499/month and customers 5% per order to replace the 30% commissions that DoorDash and Uber Eats extract.</li><li>Owner’s “Restaurant Website Grader” captures emails, returns an SEO audit, and offers an Owner trial in one click.</li></ul>

Owner hit $81M annual recurring revenue (ARR) at the end of November 2025, up 137% from $34M at the end of 2024.Owner charges independent restaurants $499/month and customers 5% per order to replace the 30% commissions that DoorDash and Uber Eats extract.Owner’s “Restaurant Website Grader” captures emails, returns an SEO audit, and offers an Owner trial in one click.

$81M/year HubSpotification Of Mom & Pop Restaurants

<ul><li>Despite billions flowing into ESG and climate tech startups during 2020-2021, most have failed to gain traction because they don’t deliver tangible financial and operational savings to owners &amp; operators of real estate.</li><li>Building-control incumbents—Honeywell, Johnson Controls, Siemens—still ship mostly hardware with thin software layers and sell through HVAC middlemen, while a new wave of vertically integrated platforms such as Runwise go direct to owners.</li><li>We&#39;ve created a way of putting a modern operating system - a new brain - into buildings that&#39;s 20-30 times cheaper than what historically existed because we do it completely wirelessly.</li></ul>

Despite billions flowing into ESG and climate tech startups during 2020-2021, most have failed to gain traction because they don’t deliver tangible financial and operational savings to owners &amp; operators of real estate.Building-control incumbents—Honeywell, Johnson Controls, Siemens—still ship mostly hardware with thin software layers and sell through HVAC middlemen, while a new wave of vertically integrated platforms such as Runwise go direct to owners.We&#39;ve created a way of putting a modern operating system - a new brain - into buildings that&#39;s 20-30 times cheaper than what historically existed because we do it completely wirelessly.

Lee Hoffman, co-founder Of Runwise, On The Operating System For Buildings

<ul><li>ChowNow has raised a total of $64M across multiple funding rounds, with its latest being a $21M Series C in May 2019.</li><li>The company's competitive advantage lies in its transparent, predictable pricing structure and focus on helping restaurants maintain direct relationships with their customers.</li><li>ChowNow has tailwinds from the growing restaurant digitization movement and increasing restaurant resistance to third-party marketplace commissions.</li></ul>

ChowNow has raised a total of $64M across multiple funding rounds, with its latest being a $21M Series C in May 2019.The company's competitive advantage lies in its transparent, predictable pricing structure and focus on helping restaurants maintain direct relationships with their customers.ChowNow has tailwinds from the growing restaurant digitization movement and increasing restaurant resistance to third-party marketplace commissions.

<ul><li>ChowNow&#39;s blended take rate averages around 10-11% per order, significantly lower than the 30% charged by marketplace competitors, allowing restaurants to retain more revenue.</li><li>Lunchbox has tailwinds from the restaurant industry&#39;s digital transformation and has the opportunity to grow and expand into adjacent markets like enterprise catering, advanced marketing solutions, and international markets with multi-location restaurant chains.</li><li>Lunchbox&#39;s current pricing starts at $300/month compared to ChowNow&#39;s $119-$298/month, reflecting its premium positioning.</li></ul>

ChowNow&#39;s blended take rate averages around 10-11% per order, significantly lower than the 30% charged by marketplace competitors, allowing restaurants to retain more revenue.Lunchbox has tailwinds from the restaurant industry&#39;s digital transformation and has the opportunity to grow and expand into adjacent markets like enterprise catering, advanced marketing solutions, and international markets with multi-location restaurant chains.Lunchbox&#39;s current pricing starts at $300/month compared to ChowNow&#39;s $119-$298/month, reflecting its premium positioning.

United States

Ecommerce software for restaurants to power online ordering, loyalty, and customer marketing

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Lunchbox (LUNCHBOX US)

Primer: Owner - 28 Aug 2026

Software suite for restaurants to manage online ordering, websites, marketing, and loyalty

Sacra

$81M/year HubSpotification Of Mom & Pop Restaurants

TL;DR: Nearly doubling its ACV from $6K to $10K over the last year and moving upmarket into multi-unit restaurants, Sacra estimates Owner hit $81M...

Sacra

Lee Hoffman, co-founder Of Runwise, On The Operating System For Buildings

In short, what is Runwise...

Sacra

Primer: ChowNow - 17 Mar 2025

Ordering software for restaurants to run direct takeout and delivery with lower fees

Sacra

Primer: Lunchbox - 17 Mar 2025

Ecommerce software for restaurants to power online ordering, loyalty, and customer marketing

Sacra

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